Human Resource Management is the heart & soul of any organization since it deals with the most crucial resource of any organization, the human resource.
In recent times, the definition of Human resources has changed from being the assets of the organization to being a capital investment. Hence the termed Human Capital Management (HCM) is more in vogue than the traditional Human Resource Management (HRM).
The HR manager is responsible for the employee’s well-being, balanced work environment, discipline in the organization, harmonious relation between employees & managers, proper hierarchy, monetary benefits & compensation, succession planning, rightsizing, and ensuring the organization runs as a well-oiled machine.
Now, as we are halfway through 2022, we have seen a big change in how we look at technology, working processes and work models.
The pandemic has taught us an essential aspect of work-life balance. HRs today face the new challenge of managing a hybrid work model or remote working. But, many companies have demonstrated excellent skill, control and tremendous effort to make these remote or hybrid work models sustainable & fruitful.
Another important change we are currently undergoing is the Industrial Revolution 4.0. The incremental usage of technology in daily tasks and the co-existence of humans and technology are creating a different set of challenges for HR managers.
The HR functions too are diversifying according to the changes in the organizational structure, use of technology and shifting focus on the mental & physical well-being of the employees.
The millennials and Gen Z are more focused on maintaining and work-life balance and are choosing mental well-being over work. This poses another challenge for the HR managers to create a conducive working environment that focuses on equity, inclusivity and diversity. Gender representation was always a matter of dispute in many companies globally.
Considering the changing expectations of the employees from the organization has led to changes in the roles & responsibilities of HR and workforce management.
Let’s take a look at the evolved skillset & Hr processes required to become a successful HR manager in the changing business scenario –
- The HR manager has the task of maintaining a balanced workforce. This means, satisfactory representation of gender, ethnicity, and age.
- The HR managers are required to be empathetic toward employees and develop a culture of open dialogue in the organization.
- Long-term planning & use of data to make decisions is a must.
- HRs today need to learn People Analytics to forecast attrition rate, hiring requirements, seasonality, derive equitable pay & calculate fringe benefits.
- Embracing technology is the key to adapting to changing work scenarios.
- HRs always have to be quick to comply with the changing norms & people management rules.
- Encouraging the workforce to upgrade their skills, and plan & execute training & development programs is a primary function of HR.
- Actively listening to the grievances & acting on them with empathy is a crucial method to maintain mental well-being.
- Data-driven decision-making is something that HR needs to stay abreast with. This helps in adequate & appropriate talent management and planning for ROI.
- HR professionals too have to adapt to the changing technology & stay in tune with the changes through skill updation.
Skill updating & upgradation are critical for HR managers globally. This will help them stay relevant & enable them to manage a virtual or remote team efficiently. MIT School of Distance Education is an institute that has understood this skill gap in the market. Hence is striving hard to diminish it.
With its offerings such as Post Graduate Diploma in Human Resource Management (PGDM – HR) and Post Graduate Diploma for Executives in Human Capital Management (PGDM Ex – HCM), MITSDE aims at upskilling working professionals. This means, that HR managers or professionals can pursue these courses without having to leave their job. This spells out a double advantage of – learn while you earn!